KraneShares CSI China Internet ETF (NYSEARCA:KWEB) Reaches New 1-Year Low – Time to Sell?

KraneShares CSI China Internet ETF (NYSEARCA:KWEB) shares reached a new 52-week low during trading on Monday . The stock traded as low as $26.22 and last traded at $26.24, with a volume of 6971928 shares changing hands. The stock had previously closed at $26.38.

KraneShares CSI China Internet ETF Trading Up 1.2%

The firm has a fifty day simple moving average of $28.35 and a 200-day simple moving average of $32.06. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 15.95 and a beta of 0.34.

Hedge Funds Weigh In On KraneShares CSI China Internet ETF

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in KraneShares CSI China Internet ETF by 32.1% during the 1st quarter. Bank of America Corp DE now owns 11,090,675 shares of the company’s stock valued at $315,308,000 after purchasing an additional 2,693,759 shares during the period. Temasek Holdings Private Ltd raised its stake in shares of KraneShares CSI China Internet ETF by 98.5% during the fourth quarter. Temasek Holdings Private Ltd now owns 6,499,382 shares of the company’s stock worth $221,304,000 after buying an additional 3,225,790 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in KraneShares CSI China Internet ETF by 6.1% in the fourth quarter. Rafferty Asset Management LLC now owns 4,302,191 shares of the company’s stock valued at $146,490,000 after buying an additional 247,264 shares during the period. Krane Funds Advisors LLC lifted its holdings in KraneShares CSI China Internet ETF by 19.6% in the fourth quarter. Krane Funds Advisors LLC now owns 3,856,700 shares of the company’s stock valued at $131,321,000 after buying an additional 631,799 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in KraneShares CSI China Internet ETF by 0.3% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,623,034 shares of the company’s stock valued at $123,365,000 after acquiring an additional 12,467 shares during the last quarter.

KraneShares CSI China Internet ETF Company Profile

The KraneShares CSI China Internet ETF (KWEB) is an exchange-traded fund that is based on the CSI Overseas China Internet index. The fund tracks a market cap-weighted index composed of overseas-listed Chinese Internet companies. KWEB was launched on Jul 31, 2013 and is managed by KraneShares.